US's Mnuchin: Massive tax reforms along with tax cuts are currently being planned

Eren Sengezer FXStreet

U.S. Treasury Secretary Steve Mnuchin is crossing the wires in the last minutes, via Reuters, saying that massive tax reforms along with tax cuts are currently being planned.

Key quotes (via Reuters):

Tax reforms to be done this year
U.S. tax receipts are little lower than Anticipated
We Are Fine Through Start of September on debt cap
Would encourage Congress to raise debt cap quickly
Ultra long bonds under very serious consideration
Right thing for Fed to get out large portfolio
Should change system so debt limit rises with spending
Treasury is firmly committed on North Korea sanctions program

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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